Supply Chain Innovator Verusen Achieves Milestones with over $2B in Managed Inventory
ATLANTA, October 17, 2022 – Verusen, a materials intelligence leader, announced it has reached significant milestones in serving the global supply chain and procurement industry, having helped customers manage more than $2 billion of inventory and nearly 3 million separate SKUs. Verusen will be at ProcureCon in Atlanta from October 16 to 18, in booth #103, where it will showcase its purpose-built materials intelligence platform.
Verusen leverages artificial intelligence (AI), deep learning, data harmonization, and decision support to help global brands control risk, attain supply chain resiliency, and improve economies for their operations. With this focus, Verusen has now achieved over $53M in client-verified savings opportunities and, in addition, has achieved $184M in potential combined savings opportunities for its customers. Verusen’s customers reside in Food & Beverage, Manufacturing, Pulp/Paper, CPG, Oil and Gas, Chemical, and similar industrial settings, where supply chains are complex and globally distributed.
According to a U.S. Energy Provider, “We had challenges reviewing the significant number of materials required on an annual basis, and the Verusen platform was able to help us automate the process. In addition to solving some of our process challenges, Verusen has also helped us identify significant inventory savings across our supply network.”
According to a Fortune 500 Packaging Company Reliability Manager, “The Verusen solution found the critical assets we needed to get our assets up and running in 3 days instead of 4+ weeks, saving us millions.”
Verusen’s AI-driven software disrupts how supply chains have worked for decades by capturing human knowledge and applying it to data, continually learning to help customers make better decisions within just weeks of implementation and without resource-heavy and costly IT initiatives.
“Delivering substantial cost savings and improved operational efficiencies for our customers is the most satisfying result for our customer success team,” said Paul Noble, founder and CEO of Verusen. “We are solving complex problems and reinventing how business gets done for global manufacturers and suppliers through materials intelligence – a proven, accelerated path to better productivity and reduced costs.”
Continuing its mission to revolutionize the way supply chains work, Verusen has raised $25 million in Series B funding this year from Scale Venture Partners, Glasswing Ventures, Flyover Capital, Zetta Venture Partners, Forte Ventures, BMW i Ventures, and Kubera VC.
About Verusen
Verusen is a supply chain intelligence innovator focused on the digitalization of the supply ecosystem to conquer materials complexity by leveraging its advanced artificial intelligence (AI), data harmonization, and decision support to help premier global companies attain supply chain resiliency and improve their bottom lines. The company’s platform harmonizes disparate material data across legacy systems and processes while providing trusted data across the enterprise to reduce supplier and operational risk. The result is a data foundation organizations can trust to fuel digitalized transformation and support related Supply Chain and Industry 4.0 initiatives. Visit verusen.com for more information, or follow us on Twitter at @Verusen_AI and on LinkedIn.
PR Contact:
Greg Cross
PenVine for Verusen
+1 925 413 5327